Oil breached the $ 80 a barrel barrier

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 Oil breached the $ 80 a barrel barrier Empty Oil breached the $ 80 a barrel barrier

Post  Admin on Wed May 23, 2018 8:31 am

Date of release: 2018/5/22 22:32

LONDON (Reuters) - Brent crude prices jumped more than 1.5 percent in trade on Tuesday to over $ 80 a barrel, buoyed by rising supply concerns amid a drop in oil production in Venezuela and a possible drop in Iran's exports.

Brent crude rose $ 1.27 to $ 80.49 a barrel by 1500 GMT.

Last week, the global benchmark went through $ 80 a barrel for the first time since November 2014.

US benchmark WTI futures rose 59 cents, or 0.8 percent, to $ 72.83 a barrel.

Earlier in the session, US crude hit $ 72.83 a barrel, its highest level since November 2014.



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